If anyone has taken advantage of Solana’s excellent performance over the past two months, it is certainly this trader. He managed to generate a profit of $5.7 million from an initial investment of $2,200.
Same Solana coin makes Trader Millionaire
According to what on-chain data analyst “lookonchain” reported, a trader was able to make a profit of almost 2,570 times his investment with Solana during the last 30 days. However, this significant gain was not achieved through trades on the SOL token, but on the ecosystem. As a result, no extremely high leverage was used. Instead, the trader chose a less risky strategy thanks to a Solana-based token.
His method is simple, he surfed a new trend. In fact, when he used almost 30 SOL tokens (equivalent to $2,200) to acquire 16 billion ANALOS, a meme coin that had just been launched and available for purchase. Luck smiled on the trader when the value of this token increased significantly, which allowed him to sell almost 14.5 billion ANALOS for an amount of 3.5 million USDC. The remaining 1.5 billion ANALOS was valued at $2.7 million at the time the analyst shared the information.
To find out more: How to buy Solana, the hottest token of the moment.
However, due to a significant correction in the price of the same coin (a drop of 47% in one day), the value of the remaining tokens dropped to $1.28 million.
analoS, the same corner with an atypical name?
Like BONK, analoS is one of the famous tokens developed on Solana. In addition, the name of the project corresponds to Solana, but written backwards. It was launched very recently when it first hit the crypto market on December 24th. Analo’s journey in the financial markets has been particularly tumultuous. It initially registered an impressive rise of almost 312%, followed by a significant correction of 47%.
Moral of the story: You must sow to reap.
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